Jubilant Radiopharma Announces Investment of $50 million (USD) to Expand Positron Emission Tomography (PET) Manufacturing Network
June 24 2024 - 1:15PM
Business Wire
Jubilant Radiopharma’s Radiopharmacies division is excited to
announce an investment of $50 million (USD) to expand its PET
radiopharmaceutical manufacturing facilities by adding six (6)
sites in strategic locations throughout the United States. The new
PET radiopharmaceutical manufacturing facilities are expected to be
operational within 24 months.
The US radiopharmaceutical industry is poised to grow from $5
billion (USD) in 2023 to $20 billion (USD) in 2030 due to the
increasing demand of PET imaging and advanced radiopharmaceutical
therapies. The growth in the PET imaging market is fueled by new
products such as diagnostic agents indicated for positron emission
tomography (PET) of prostate-specific membrane antigen (PSMA)
positive lesions in men with prostate cancer and novel diagnostics
that reliably visualize β-amyloid neuritic plaques for more
personalized patient management in adult patients with cognitive
impairment who are being evaluated for Alzheimer’s Disease (AD) and
other causes of cognitive decline.
This investment will expand the company’s PET
radiopharmaceutical manufacturing sites to nine (9) and the overall
radiopharmacy (PET/SPECT) network to fifty-two (52) sites, solidly
positioning Jubilant’s radiopharmacy network as the second largest
in the US.
Harsher Singh, CEO, Jubilant Radiopharma business said,
“This investment shall help us meet increasing demand of novel PET
products from our customers. With a much stronger PET manufacturing
network, we also expect to secure long-term contracts with leading
PET radiopharmaceutical manufacturers. We remain committed to
improve patient lives through nuclear medicine.”
About Jubilant Radiopharma
Jubilant Radiopharma, a division of Jubilant Pharma Ltd., is an
industry-leading radiopharmaceutical business that comprises
development, manufacturing and commercialization of products
through its Radiopharmaceuticals business and distribution through
its national network of Radiopharmacies and PET Radiopharmaceutical
Manufacturing Facilities. The division’s Radiopharmacies business
is the second largest radiopharmacy network in the US with 46
pharmacies distributing nuclear medicine products to the largest
national Group Purchasing Organizations (GPOs), regional health
systems, stand-alone imaging centers, cardiologists and hospitals.
This business has over 30 years of experience in serving the US
nuclear medicine community and its current geographical reach
enables it to serve over four million patients yearly. Jubilant
Radiopharma is focused on “Improving Lives through Nuclear
Medicine” on a global scale. For more information, please visit
www.jdiri.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240624777054/en/
For further information, please contact:
Siddharth Agrawal Phone: 215-669-8969 Email:
Siddharth.Agrawal@jubl.com
Kathleen Milankow Phone: 215-527-6051 Email:
Kathleen.Milankow@jubl.com